Pros Say: This Rally Still Has Legs

Global stocks declined Wednesday as grim data from China and the U.S. fueled concerns over the recovery of the global economy. Experts tell CNBC that although the economic slowdown is ongoing, the current rally still has some life in it.

Rally Can Keep Going

Although Tim Mulholland, MD at China-America Capital Company believes we are not out of the woods yet, but also thinks the current rally still has legs.

Negative US Growth in '09

Richard Fisher, president & CEO at the U.S. Federal Reserve Bank of Dallas expects negative U.S. economic growth this year but the numbers will get less bad as we progress.

Signs of an Economic Turnaround

Gains in the base metals space is a sign that we are getting closer to a broad economic turnaround, says David Costa, dean at Robert Kennedy College.

Dollar Likely to Recoil Against Yen Soon

Euan McCreadie, senior corporate dealer at OzForex expects the dollar to recoil against the yen in the mid- to late-week.

Yen Seen Gaining Against Dollar

The yen is likely to strengthen a little against the dollar in the immediate term, predicts John Noonan, senior FX analyst at Thomson Reuters.

Aussie Dollar Expectations

The Australian dollar is expected to lead back towards 68 cents, says Matthew Kassell, director of proprietary FX at ING.

S&P Risks Further Declines

The S&P 500 could break lower from current levels, but sentiment still remains largely positive, Dodge Dorland, CIO of Landor Capital Mgmt, told CNBC Wednesday.

Economy to Avert Disaster

There are signs that suggest the economy is bottoming out and the pace of decline is easing, David Page from Investec told CNBC.

Recovery Hopes Overblown?

"There are too many market participants out there looking for these green shoots, which I don't see," Stephen Gallo from Schneider Foreign Exchange told CNBC.